The S&P/ASX 200 Index (ASX: XJO) ended the day up 0.35% to 5,422 points. The ASX 200 was down over 1% earlier in the day.
China and Australia’s dispute continues to grow. The Asian superpower reminded Australia how important it is to the Australian economy.
Commonwealth Bank of Australia (ASX: CBA) update
CBA, Australia’s largest bank, announced its third quarter update today in light of the coronavirus. .
The bank said that it has been giving widespread support for the economy.
It said that its March 2020 quarter showed cash profit was down 44% compared to the first half of FY20’s quarterly average.
Both the statutory net profit after tax and cash profit came in at $1.3 billion.
The major ASX 200 bank also announced that it had agreed to sell a 55% stake in Colonial First State for $1.7 billion.
Glittering day for Resolute Mining Limited (ASX: RSG)
Resolute Mining announced it has completed the second tranche of its $195 million capital raising at a price of $1.10 per share. The initial capital raising was launched in January 2020. Today it issued over 7.7 million shares to ICM Limited nominees.
The gold miner was one of the top performers in the ASX 200 today. The Resolute Mining share price went up over 5%.
Large ASX 200 movers
At the green end of the ASX 200 the Pilbara Minerals Ltd (ASX: PLS) share price rose around 11%, the Avita Medical Ltd (ASX: AVH) share price climbed 8.7% and the Mayne Pharma Group Ltd (ASX: MYX) share price grew over 5%.
At the red of the ASX 200 the Orocobre Limited (ASX: ORE) share price fell 7.7%, the Alumina Limited (ASX: AWC) share price dropped 6.6% and the Harvey Norman Holdings Limited (ASX: HVN) share price fell 5.7%.
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More reading
- With Aussie wages set to fall, could ASX 200 shares follow?
- This is the best ASX big bank stock you can buy right now
- 4 top ASX shares to invest $4,000 into immediately
- How can the ASX 200 soar with rising unemployment?
- ASX 200 down 0.9%: CBA reveals $1.5bn COVID19 provision & gold miners charge higher
Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Avita Medical Limited. The Motley Fool Australia has recommended Avita Medical Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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